T&G Global has welcomed the New Zealand Commerce Commission’s decision to approve its acquisition of the domestic division of Freshmax New Zealand.
T&G Global CEO, Gareth Edgecombe, said the acquisition will bring together two of New Zealand’s leading fresh produce companies, providing a superior partnership for growers and retailers.
“For 122 years, T&G Global has partnered with local and international growers and retailers to provide Kiwis with high quality, nutritious fruit and vegetables. The team at Freshmax New Zealand share our passion for superior quality, servicing retailers across the country," said Edgecombe.
“By bringing together our two strong businesses, we can enhance New Zealand’s fresh produce supply chain, providing year-round supply of key categories, as well as expanding into exciting new categories. This will provide growers with improved access to markets, and for retailers a platform which simplifies their ability to access high quality fruit and vegetables."
The combined strengths of the businesses will build a stronger presence in the market.
The acquisition includes three market sites (Auckland, Wellington and Christchurch) and distribution services throughout New Zealand (Auckland, Palmerston North and Christchurch).
T&G will now move to satisfy all of the conditions of the acquisition, with the view to completing the purchase by the end of April 2020.
“Our immediate priority will be the smooth integration of the two businesses, which in light of COVID-19, is occurring at a time of increased demand from supermarkets.
“As an essential business, we’re committed to providing a robust and safe supply chain. This acquisition further strengthens our ability to deliver fresh fruit and vegetables to retailers, home delivery providers and communities across New Zealand."